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House Insurance renewal

Making your money go further
didds
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House Insurance renewal

#405775

Postby didds » April 21st, 2021, 9:07 am

House insurance is up for renewal this week. ive a quote from exusting insureres for £374 for buildings and contents on a 4 bedroom [1], detached property. second quote is higher than renewal quote.

I do the usual pruice comarisons sites and find I can save £50 on that for very similar cover etc. I go to buy the cheaper ("new"_) insurance and their website is down and I am invited to phone the next day. I really CBA and so decide to bite the bullet and renew the existing policy (quotemehappy) and such up the difference in the interests of getting it done etc.

When doing so I fiond I had ommitted to update the section on the QMH site for house wonership, from mortaged to owned outright. That £50 difference disappeaed!

happy days.

renewed.

I suppose my pointless buit happy tale is to make sure one has updated all the relevant information! Which you all know of course.

I'll get me coat!

didds


[1] really a 3 bed but we split a large room into two for our sons ten or so years ago, though that doesnt seem to affect the costs of insurance when i bother to check

Dod101
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Re: House Insurance renewal

#405777

Postby Dod101 » April 21st, 2021, 9:12 am

Good outcome. I think I commented on my renewal at the beginning of this month at about the same numbers for much the same accommodation so we would appear to be in the right ballpark. Interesting that they knock more than 10% off it if you have no mortgage though.

Dod

Westy23
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Re: House Insurance renewal

#406093

Postby Westy23 » April 22nd, 2021, 11:18 am

Had renewal for building and contents from Lv
for £364 so did a comparison and have gone to Tesco’s
for £146.65.
Excess is higher but have not claimed for years.
When I phoned Lv to cancel renewal no effort made to retain my custom.
Never mind happy with that price and Clubcard points as well.

Dod101
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Re: House Insurance renewal

#406116

Postby Dod101 » April 22nd, 2021, 12:24 pm

Westy23 wrote:Had renewal for building and contents from Lv
for £364 so did a comparison and have gone to Tesco’s
for £146.65.
Excess is higher but have not claimed for years.
When I phoned Lv to cancel renewal no effort made to retain my custom.
Never mind happy with that price and Clubcard points as well.


That sounds a bit like buying a share with a 10% yield when the average is around 3.5/4.00%. Do you know who actually underwrites the quote from Tesco? As far as i know they are do not own an insurance company, and they have commission to come off that as well.

Dod

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Re: House Insurance renewal

#406259

Postby monabri » April 22nd, 2021, 6:28 pm

https://www.tescobank.com/home-insurance/

Tesco Bank Home Insurance is arranged and administered by Tesco Bank and is underwritten by a select range of insurers:

Tesco Underwriting Ltd
AXA Insurance UK plc
Royal & Sun Alliance Insurance plc
Fairmead Insurance Limited
Home Emergency cover is underwritten by Interpartner Assistance SA.

Family Legal Guard is underwritten by AmTrust Europe Limited.

Westy23
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Re: House Insurance renewal

#406525

Postby Westy23 » April 23rd, 2021, 5:28 pm

Hi Dod101.
Don’t really understand your post as surely Tesco are a big enough concern not to be any more risky than other brokers offering
household insurance.
Also I hope insurance regulation in the Uk is robust enough to offer some security should the underwriters have difficulty meeting any claims.
Am happy to be educated on any aspects I am misunderstanding or missing.


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